Lenders to the defunct Lanco Group have taken Hyderabad-based iLabs Group to court, claiming that the company has refused to part with the 29% stake it holds in Lanco Anpara Thermal Power to the power plant’s...
CPFL, Equatorial eye acquisition of Enel-owned power distributor in Brazil
Equatorial Energia SA and CPFL Energia SA are both considering buying a power distribution firm owned by Italy’s Enel SpA in Brazil, they said on Tuesday, although noting that any potential deal remains distant...
Hydropower mega-merger proposal likely next month
State-owned hydropower company NHPC Ltd is likely to submit a proposal next month to merge two other public sector hydro companies, THDC India Ltd and North Eastern Electric Power Corp. Ltd (Neepco) with itself, said...
Reliance, Adani, Vedanta among companies in race for Bhadreshwar Vidyut
Reliance Industries, Adani Power, Torrent Power, Vedanta and Jindal Power are among 14 companies that have shown interest in acquiring Gujarat-based Bhadreshwar Vidyut, which is undergoing insolvency, said people aware...
NTPC likely to divest 25% of green energy arm via public offer – source
India’s largest power producer NTPC Ltd is likely to divest 25% of its green energy arm through a public offering this year after shelving a plan to sell the stake to Malaysia’s Petronas, a person familiar...
Enel agrees to sell two Peruvian assets to China’s CSGI for $2.9 bln
Italy’s biggest utility Enel said it agreed to sell its equity stakes in two Peruvian assets for $2.9 billion to China Southern Power Grid International (CSGI). Enel launched an asset sale plan in November that...
Statkraft, first MNC to buy bankrupt Indian power firm
Europe’s largest renewable energy company Statkraft is set to become the first MNC player to buy an Indian power company under the insolvency and bankruptcy code (IBC) process after national company law tribunal (NCLT)...
Statkraft’s resolution for Lanco Mandakini gets NCLT nod
An Indian bankruptcy court has approved Europe’s largest renewable energy company Statkraft’s resolution plan for Lanco Mandakini Hydro Energy. Lenders including Punjab National Bank, Canara Bank, Bank of...
Adani Group, Reliance Industries pull out of race to acquire SKS Power Generation
Adani Group and Reliance Industries have not submitted revised bids for SKS Power Generation (Chhattisgarh), making it a five-way contest for the 600 MW thermal power project, people familiar with the process said...
Adani Power sells Support Properties stake to AdaniConnex for Rs 1,556 cr
Adani Power on Thursday said it has sold a 100 per cent stake in Support Properties Private Ltd (SPPL) to AdaniConnex Private Ltd (ACX) at an enterprise value of Rs 1,556.5 crore. “Parties to the proposed...
DB Power buys back stake from Global Infrastructure for ₹400 cr
Dainik Bhaskar Group’s DB Power Ltd has repurchased Global Infrastructure Partners (GIP) stake in its thermal power business for ₹400 crore, in a deal that has facilitated the investor’s exit, two people with knowledge...
Brazil’s Eletrobras says unit paid $32 mln for Madeira stake
Brazil power company Eletrobras said that its subsidiary Furnas acquired a stake of Madeira Energia for 168 million reais ($32 million). Madeira Energia operates the Santo Antony hydroelectric power plant. In a...
